CME Group, the world’s largest and most diverse derivatives exchange, today announced the launch of clearing services for five new petroleum swap futures contracts, scheduled to launch on May 17 for trade date May 18. Clearing services will be available through CME ClearPort®, a set of flexible clearing services open to over the counter (OTC) market participants to substantially mitigate counterparty risk and provide capital efficiencies across asset classes. The contracts are listed with, and subject to, the rules and regulations of NYMEX. These contracts will also be listed for trading by NYMEX through CME ClearPort.
These clearing services will help meet the needs of new and existing customers, primarily in Asia and Europe, who would like to hedge their exposure to the growing biofuels markets.
The swap futures contracts and their commodity codes will be: ethanol (Platts) T1 FOB Rotterdam excluding duty (2M); ethanol (Platts) T2 FOB Rotterdam including duty (Z1); Singapore Mogas 92 unleaded (Platts) (1N); Singapore Mogas 92 unleaded (Platts) BALMO (1P); and FAME 0 (Argus) biodiesel FOB Rotterdam (2L).
The first listed month will be June 2009. All of the contracts will be listed for 36 consecutive months, with the exception of the BALMO swap futures contract, which will be listed for up to two consecutive months.
